2 August 2014

UK Reporting Funds Status for Period Ended 31 December 2013

Dear shareholder of the following share classes and funds of Ossiam Lux:

Fund Share Class ISIN
OSSIAM Euro Stoxx 50® Equal Weight NR UCITS ETF 1/C (EUR) LU0599613063
OSSIAM Stoxx® Europe 600 Equal Weight NR UCITS ETF 1/C (EUR) LU0599613147
OSSIAM FTSE 100 Minimum Variance UCITS ETF 1/C (GBP) LU0705291739
OSSIAM World Minimum Variance NR UCITS ETF 1/C (USD) LU0799656342
OSSIAM World Minimum Variance NR UCITS ETF 1/C (EUR) LU0799656698
OSSIAM Emerging Markets Minimum Variance NR UCITS ETF 1/C (USD) LU0705291812
OSSIAM Emerging Markets Minimum Variance NR UCITS ETF 1/C (EUR) LU0705291903
OSSIAM US Minimum Variance NR UCITS ETF 1/C (USD) LU0599612412
OSSIAM iStoxx™ Europe Minimum Variance NR UCITS ETF 1/C (EUR) LU0599612842
OSSIAM Risk Weighted Enhanced Commodity Ex. Grains TR UCITS ETF 1/C (USD) LU0876440222

Background to UK Reporting Fund Status

Your shareholding in the above fund constitutes an interest in an offshore fund from a United Kingdom ("UK") taxation perspective, with each share class treated as a separate 'offshore fund'. The UK Offshore Funds Regulations came into effect on 1 December 2009 and provide that if an investor resident or ordinarily resident in the United Kingdom for taxation purposes holds an interest in an offshore fund and that offshore fund is a 'non-reporting fund', any gain accruing to that investor upon the sale or other disposal of that interest will be charged to United Kingdom tax as income rather than a capital gain. Alternatively, where an investor holds an interest in an offshore fund that has been a 'reporting fund' for all periods of account for which they hold their interest, any gain accruing upon sale or other disposal of the interest will be subject to tax as a capital gain rather than income.

The share classes above have been certified by HM Revenue & Customs ("HMRC") as reporting funds for the year ended 31 December 2013. Reporting funds have an annual requirement to calculate and report to UK investors and HMRC the reportable income per share and distributions made for each share class. Provided the share classes comply with this annual reporting requirement, any gain accruing upon sale or other disposal of the interest by each UK shareholder will be subject to tax as a capital gain rather than income.

What does this mean for investors?

Investors will be required to include on their tax return any distributions received during the year and their proportionate share of reportable income in excess of any distributions received. The proportionate share of the reportable income is calculated as follows:

The excess reportable income per share must be multiplied by the total number of shares you held in each Class at 31 December 2013 in order to derive the total reportable income to be included in your tax return. The timing of the receipt of income is as follows:

Reportable income for the year ended 31 December 2013

The reportable income by share class is available in the attached file for the period ended 31 December 2013.

See reportable income calculation

If you have any queries on the above, please contact us at OffshoreOps@ngam.natixis.com.

Yours faithfully
NGAM S.A.

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